Ukraine Recap: Blinken Promises $1 Billion in New US Assistance

(Bloomberg) -- Visiting Kyiv, US Secretary of State Antony Blinken promised $1 billion in new US assistance, including for the first time some funds seized from Russian oligarchs. The State Department said the seized assets include $5.4 million that will go toward reintegration and rehabilitation of Ukrainian veterans.

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A Russian drone attack on Izmail, a key Danube port, killed at least one person, the local governor said on Telegram early Wednesday. It marked the latest such assault on the city, which is crucial to Ukrainian grain exports.

The Danube River has become Ukraine’s primary shipping route for agricultural goods since Russia exited the Black Sea grain deal in July, making it essential to clear this year’s better-than-expected harvest. Kyiv also came under attack from Russian missiles overnight, but the city’s military administration said they had all been shot down.

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Wheat futures in Chicago traded little changed, holding near a three-month low. Large harvests in some other key producers, including Russia, have tempered price gains.

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